Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Masonite International Corp (NYSE:DOOR) based on that data.
Is Masonite International Corp (NYSE:DOOR) a buy right now? The smart money is becoming hopeful. The number of bullish hedge fund bets improved by 1 lately. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article, we will examine companies such as Copa Holdings, S.A. (NYSE:CPA), Calumet Specialty Products Partners, L.P (NASDAQ:CLMT), and Ambarella Inc (NASDAQ:AMBA) to gather more data points.
Follow Masonite International Corp (NYSE:DOOR)
Follow Masonite International Corp (NYSE:DOOR)
In today’s marketplace, there are dozens of metrics market participants have at their disposal to assess publicly traded companies. Two of the most useful metrics are hedge fund and insider trading signals. Our researchers have shown that, historically, those who follow the best picks of the elite fund managers can outperform the broader indices by a superb amount (see the details here).
With all of this in mind, let’s take a peek at the fresh action regarding Masonite International Corp (NYSE:DOOR).
What does the smart money think about Masonite International Corp (NYSE:DOOR)?
At the end of September, a total of 28 of the hedge funds tracked by Insider Monkey were long this stock, a change of 4% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, 12 West Capital Management, managed by Joel Ramin, holds the number one position in Masonite International Corp (NYSE:DOOR). 12 West Capital Management has a $136.7 million position in the stock, comprising 19.9% of its 13F portfolio. The second largest stake is held by Citadel Investment Group, managed by Ken Griffin, which holds a $60 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other members of the smart money that are bullish consist of Phill Gross and Robert Atchinson’s Adage Capital Management, Dinakar Singh’s TPG-AXON Management LP, and Eric Edidin and Josh Lobel’s Archer Capital Management.
Consequently, key hedge funds have been driving this bullishness. GLG Partners assembled the largest position in Masonite International Corp (NYSE:DOOR). GLG Partners had $13.6 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $7.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Andrew Grossman and Michael Levitt’s LG Capital Management, Peter Muller’s PDT Partners, and Paul Tudor Jones’s Tudor Investment Corp.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Masonite International Corp (NYSE:DOOR) but similarly valued. We will take a look at Copa Holdings, S.A. (NYSE:CPA), Calumet Specialty Products Partners, L.P (NASDAQ:CLMT), Ambarella Inc (NASDAQ:AMBA), and Guess?, Inc. (NYSE:GES). All of these stocks’ market caps are closest to Masonite International Corp (NYSE:DOOR)’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| CPA | 14 | 164856 | -4 |
| CLMT | 8 | 22180 | 0 |
| AMBA | 27 | 324322 | 1 |
| GES | 15 | 153289 | 1 |
As you can see, these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $166 million. That figure was $553 million in Masonite International Corp (NYSE:DOOR)’s case. Ambarella Inc (NASDAQ:AMBA) is the most popular stock in this table. On the other hand, Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks, Masonite International Corp (NYSE:DOOR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
